Nasdaq Composite

The last few weeks trading range in the NASDAQ composite has the look of a triangle, the top end of which is that 8045. The short-term momentum continues to be positive with incomplete cycles meaning more upside is open if you get past the 8045 mark it is easy to say that you will go towards the next meaningful replacement however on a larger chart do not rule out the possibility that the last six months is an ending diagonal and wave E of that would make a new high towards the top end a trendline at 8430.